Jerome Powell: “It is absolutely the case that Congress will need to authorize the Federal Reserve to issue a CBDC.”

We may approach that point in coming months

So we didn't overreact — in fact, we didn't react at all. We're simply taking some time.

I have a little more than 10 months left on my term as chair, and all I want, and all anyone at the Fed wants, is to deliver an economy that has price stability, maximum employment, financial stability.

without the ability to pay interest on reserves, the Fed would lose control over rates